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Canada's Ivey PMI index rises in July
The pace of purchasing activity in the Canadian economy in July rose to its highest level in four months, according to Ivey Purchasing Managers Index data released on Tuesday. The data showed the seasonally adjusted index climbed to 62.8 in July from 49.0 in June, its highest level since March. Analysts polled by Reuters had forecast a reading of 52.5. Any index reading below 50 indicates that activity contracted from the preceding month. But the data garnered little market reaction and economists and strategists suggested that Canada's growth picture is still vulnerable to a fragile U.S. economic recovery as well as ... (full story)